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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Postretirement Benefit Cost

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2024, 2023 and 2022:

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(In thousands)

 

Service cost, benefits attributed for service of active employees for the period

 

$

60

 

 

$

72

 

 

$

91

 

Interest cost on the accumulated postretirement benefit obligation

 

 

184

 

 

 

206

 

 

 

119

 

Amortization of actuarial gain

 

 

(179

)

 

 

(193

)

 

 

(48

)

Net periodic postretirement benefit cost

 

$

65

 

 

$

85

 

 

$

162

 

 

Reconciliation of Projected Benefit Obligation The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date:

 

 

 

2024

 

 

2023

 

 

 

(In thousands)

 

Benefit obligation at beginning of year

 

$

3,922

 

 

$

4,244

 

Service cost

 

 

60

 

 

 

72

 

Interest cost

 

 

184

 

 

 

206

 

Actuarial gain

 

 

(557

)

 

 

(22

)

Plan participants' contributions

 

 

295

 

 

 

543

 

Benefits paid

 

 

(582

)

 

 

(1,121

)

Benefit obligation, end of year

 

$

3,322

 

 

$

3,922

 

Schedule of Amounts Recognized in Consolidated Balance Sheets

The amounts recognized in the Consolidated Balance Sheets at December 31 are:

 

 

 

2024

 

 

2023

 

 

 

(In thousands)

 

Accrued compensation and employee benefits

 

$

290

 

 

$

309

 

Accrued non-pension postretirement benefits

 

 

3,032

 

 

 

3,613

 

Amounts recognized at December 31

 

$

3,322

 

 

$

3,922

 

 

Schedule of Amounts Included in Accumulated Other Comprehensive Income, Net of Tax Expected to Recognized in Net Periodic Benefit Cost

Amounts included in accumulated other comprehensive income, net of tax, at December 31, 2024 that have not yet been recognized in net periodic benefit cost are as follows:

 

 

 

Pension
plans

 

 

Other
postretirement
benefits

 

 

 

(In thousands)

 

Net actuarial loss (gain)

 

$

104

 

 

$

(1,251

)